Government's Stimulus Package To Support 35 Businesses

The Akufo-Addo-led NPP government has reaffirmed its commitment to supporting private businesses by putting in place a stimulus package for about 35 companies.

These beneficiary companies will soon receive financial support under the government's stimulus package program for businesses.

The support should help the businesses revive and expand their operations as well as create jobs.

The stimulus package forms part of the pillars on which the government intends to develop private businesses.

Shortlisted businesses were assessed to determine their viability and the needed support to revamp the operations.

Speaking at the annual awards ceremony of the Association of Ghana Industries (AGI), President Akufo Addo said so far 237 million dollars has been disbursed to 16 companies.

This translates into an average support of 14.81 million dollars.

“Under the stimulus package, 237 has been disbursed to 16 companies with additional 35 being considered for support,” he said.

Again, the President assured that the government will work to reduce the impact of erratic power supply and cedi depreciation on business going forward.

“…One thing I can assure you is that the days of high public debt, high fiscal deficit, high interest rates, depreciating currency, erratic power supply will not be a feature of my government.”

Meanwhile the President of the AGI, Dr. Adu Gyamfi tells Citi Business News industry is awaiting the full impact of the one billion cedis allocation to business development next year.

“If some of these monies are really given to industries, we will see a major jump. The President just said it confirming that 2019 will be a year that manufacturing will take its place. We are going to work with them,” he indicated.

Over twenty [20] companies and individuals were awarded on the night.

Nestle Ghana picked the overall best industrial company of the year in addition to winning other categories.

Other award winners included; Wilmar Africa, Nexans Cable, Sewage Systems Ghana Limited.

---CitinewsRoom